A forum on the exploration of development opportunities following the “Pingtan Closure” was held in the Pingtan Comprehensive Pilot Zone (PCPZ) on Aug 11.

Officials and economists exchange views on Pingtan’s development prospects following the Pingtan Closure. [Photo/pingtan.gov.cn]

Pingtan Closure refers to the implementation of an integrated customs supervision and management system covering Pingtan Island in eastern Fujian province.

Themed “New Pingtan, New Special Zone, New Home”, the forum invited some economic experts to break down the benefits of Pingtan Closure.

Following Pingtan Closure, a number of economic reform policies approved by the Central Government, such as opening ports, land management and reform, piloting of cross-border e-commerce, and a hefty enterprises income tax cut, have been carried out, making Pingtan a prospective investment destination, said Lin Jianglin, deputy director of PCPZ’s administrative committee.

Pingtan Closure is a milestone in terms of China’s innovation of its open-door policy. And it must be a trailblazer in many respects, including institutional innovation, problem solving at a high level, as well as establishing assessment mechanisms, which will provide experience for economic reform in other places in Fujian, according to Zhao Jinping, a senior economist with the State Council.

Pingtan ought to take advantage of its favorable policies, and put more energy into the industries of manufacturing, logistics and services, said Wu Haiping, deputy director of the Department of Processing Trade and Customs Bonded Operations under the General Administration of Customs.

Liu Ge, who is economic observer for China Central Television, pointed out that with a large hinterland behind, Pingtan should develop its service industry and cutting-edge technology industry.

The Forum attracted a large audience. Some even came from outside Pingtan.

An entrepreneur, surnamed Huang, from Fuzhou city, said after getting a better understanding of Pingtan’s development situation and its preferential policies, that he is more confident of Pingtan’s future growth, and hopefully the incentives will entice more investors.